After a brutal winter and difficult start to the spring, a string of housing data set to be released this week is likely to show continued overall improvement in the housing market. Though the monthly numbers are up and down the trend is clear: the housing market is stronger by some measures than at any point since 2005. But this good news isn’t good for everyone and that’s bad for our economy.
Despite strong gains, especially at the top of the market, the housing recovery is preceding in such way that keeps those hardest hit by the foreclosure crisis and frozen out of the housing market left on the margins; particularly people of color and people under 35. The point is that the housing market may be back but in a way that only enlarges existing inequities. But before turning to where the housing market is off track, let’s take a look at what’s working.